New Media Investment Net Income of $955.4M


New Media Investment (NEWM): Q4 Net Income of $955.4M.

Revenue of $160.4M.

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Comments (2)
  • canb888
    , contributor
    Comments (668) | Send Message
     
    Is it typo (with extra three zeros for Net Income) or creative accounting to have Net Income so much larger than Total Revenue? Quote from their Press Release:
    Total Revenue of $160.4 million
    Net Income of $955.4 million
    19 Mar 2014, 07:20 AM Reply Like
  • James_B
    , contributor
    Comments (232) | Send Message
     
    There is a line item called "reorganization items, net" which I believe is the forgiveness of the debt (converted to equity at a discount) of just under $1MM in the 4th quarter... The more I read and understand about NEWM, it seems as though the purpose of this reformation is to provide NCT a cash cow for the time being and to sell the company at a later date. NCT owns 85% of NEWM.
    19 Mar 2014, 09:59 AM Reply Like
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